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Outward FDI from the BRICs: Trends and Patterns of Acquisitions in Advanced Countries

In: Emerging Economies and Firms in the Global Crisis

Author

Listed:
  • Fabio Bertoni
  • Stefano Elia
  • Larissa Rabbiosi

Abstract

In the last few decades, emerging markets have been characterized by liberalization of foreign direct investment (FDI) regimes, governance reforms, deregulation, and the general adoption of market-oriented policies. This major process has posed a number of challenges for emerging firms, which have been increasingly exposed to competition from foreign firms and to the pressure of global economic integration. In this scenario, outward foreign direct investments (OFDIs) from emerging countries grew rapidly and assumed a strategic role, representing 16 per cent of global OFDI flows in 2008 and 28 per cent in 2010 (UNCTAD, 2011). OFDIs are also earning increasing attention in the International Business (IB) literature (Luo and Tung, 2007; Sauvant, 2008; Athreye and Kapur, 2009) for three reasons. Firstly, they are a recent and growing phenomenon that still has to be fully described and understood (Hoskisson et ah, 2000; Sauvant, 2005). Secondly, they originate from countries and firms that do not easily fit into the traditional theoretical frameworks adopted to explain OFDIs from advanced countries (Mathews, 2006; Li, 2007; Rugman, 2007; Kalotay, 2008). Thirdly, their impact on the host and home countries still needs to be fully investigated (UNCTAD, 2005b; Goldstein, 2007).

Suggested Citation

  • Fabio Bertoni & Stefano Elia & Larissa Rabbiosi, 2013. "Outward FDI from the BRICs: Trends and Patterns of Acquisitions in Advanced Countries," Palgrave Macmillan Books, in: Marin A. Marinov & Svetla T. Marinova (ed.), Emerging Economies and Firms in the Global Crisis, chapter 3, pages 47-82, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-27747-3_3
    DOI: 10.1057/9781137277473_3
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    Cited by:

    1. Riccardo Crescenzi & Carlo Pietrobelli & Roberta Rabellotti, 2016. "Regional strategic assets and the location strategies of emerging countries’ multinationals in Europe," European Planning Studies, Taylor & Francis Journals, vol. 24(4), pages 645-667, April.
    2. Alessia Amighini & Claudio Cozza & Elisa Giuliani & Roberta Rabellotti & Vittoria Scalera, 2015. "Multinational enterprises from emerging economies: what theories suggest, what evidence shows. A literature review," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 42(3), pages 343-370, September.
    3. Riccardo Crescenzi & Carlo Pietrobelli & Roberta Rabellotti, 2015. "Location Strategies of Multinationals from Emerging Countries in the EU Regions," LEQS – LSE 'Europe in Question' Discussion Paper Series 93, European Institute, LSE.

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